Sonic - White House

Asset Type

Retail

Address
417 Highway 76 White House, TN United States 37188-9202
Asking Price

S$1,777,000

Sq Footage

1,350

Year Built

1993

Cap Rate

6.20%

Additional Attributes
Current / Passing Rent S$110,100
Escalations 10% in 2021
Guarantor SONIC Corporation
Lease Expiration 2026-10-31
Lease Type NNN
Options 3, 5-year
Tenant Sonic Restaurants, Incorporated

Property Description

Single-tenant Sonic fast food restaurant for sale in growing, affluent suburb of White House, located 20 miles north of Nashville. Positioned along Highway 76 and close to the major retail corridor that includes Kroger, Walmart, Walgreens and more. This Sonic is the only location in White House and serves a population of over 16,000 in a 3-mile radius.

Investment Highlights

  • Fee simple interest
  • Property includes an absolute NNN lease structure with over 7 years of primary term remaining
  • Lease is guaranteed by Sonic Corporation, the nation’s largest drive-in restaurant chain, serving more than 3 million customers a day
  • Zero landlord responsibilities
Listing Contacts
Peter Furest
Peter Furest
SVP, Capital Markets
+65 3159 4021
NY - 10401232530
Brian Shanfeld
Brian Shanfeld
Managing Director, Captl Mkts
+65 3159 4021
IL - 475158824
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